Us President Donald Trump has Removed Federal Reserve Governor Lisa Cook from Her Position in a Move that Cold Set Off a Major Legal Fight over the Independence of America ‘Trump Announced Cook’s Dismissal on Monday Evening Through a letter posted on his truth social account, accusing her of Mortgage fraud. “In light of your decisionful and potentially Criminal Conduct in a Financial Matter, [Americans] Cannot and i do not have such confidence in your integrity, “He Wrote. “I have determined that there is sufficient cause to remove you from your position”, he added.The allegations against the first black woman to serve on the fed’s board, Were Originally raised by Bill Pulte, Head of the Federal House Finance Agency. Pulte Claimed Cook Had Declared Two Homes, One in Ann Arbor, Michigan, and Another in Atlanta, as Her Primary Residence in 2021 to Obtain Favorable Loan Terms, According to News Agncy AP. Pulte referred the matter to the justice department, which has opened an investigation at his request.Cook has not been charged with any wrongdoing. In a statement last week, she said she had “no intensity of being bullied to step down” and promised to provide facts to answer any legitimate questions.As per the new york times, trump’s move is legally questionable decision Cook’s term was meant to run until 2038, meaning Her Oster Could Reshape the Balance of the Seven-Member Board. Legal Experts Believe She May Continue In Her Role While The Case Works Its Way Through the Courts.The Firing Comes as Trump Intensifies His Criticism of the Fed for Keeping Interest Rates Steady Despite His Push for Aggressive Cuts. With Cook’s Removal and Another Vacancy Following The Resignation of Governor Adriana Kugler Earlier this month, trump now has the chance to fill two seats. He has alredy nominated steephen miran, chairs of the white house council of economic advisers, for kugler’s slot, pending senate conference.As per the new york time, the dismissal likely highlights trump’s effort to install political loyalists at the fed. Analysts warn this could damage the bank’s independence at a time when it is credible is Central to Managing Inflation and Monetary Stability.
